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An East Yorkshire headquartered IT services company is on track for rapid growth and expansion that will result in a 50% workforce expansion in 2017 following a £150,000 investment from UK Steel Enterprise.

Hessle-based Intrasource - which recently underwent a management buyout spearheaded by Dave Collings (Operations Director) and Matt Nunns (Technical Director) - offers business-to-business IT support, phone systems, cloud services and IT consultancy to a range of sectors.

Established in 2000, the company will now use the equity investment from UK Steel Enterprise, which is backed by the government’s Regional Growth Fund, to further bolster its sales and technical teams.

David Collings, Operations Director at Intrasource, said: “IT is an ever evolving industry, and this investment will help us to ensure that we have the necessary team in place to manage our growing customer-base whilst continuing to build on our reputation for excellence within the sector.”

“Ultimately, our clients choose to establish contracts with us because they know we are able to look after their IT requirements all day, every day, all year round; and we are committed to always going the extra mile to keep their systems fully functioning whilst ensuring that we offer best-in-class products and services.”

Allan Wood, Regional Executive at UK Steel Enterprise, said: “Intrasource has continued to operate at the cutting edge of its sector since it was established in 2000, with a strong management team in place that has helped to cement its reputation for excellence within the IT services arena.”

“With further growth and expansion plans afoot, this equity growth investment will help the business grow its team and offer its services to a growing number of business with staff based both here in the UK and further afield.”
“We wish them every luck during this exciting time.”

David Collings went on to thank Steve Frazer of Frazer Hall Corporate Finance who facilitated the introduction between Intrasource and UK Steel Enterprise which provides loan and equity finance of up to £1m to growing companies - particularly those creating jobs.

Businesses looking for growth finance can contact the UK Steel Enterprise team on 0800 915 1188.

Caption (L to R): Matt Nunns, Intrasource Technical Director; Matt Stewart, Investment Manager; Allan Wood, UK Steel Enterprise Regional Executive; David Collings, Intrasource Operations Director.